CHAMBAL FERTILISERS AND CHEMICALS LIMITED,KOTA vs. ACIT, KOTA

In the result, appeal of the revenue is dismissed

property of the electricity Board unlike the present case and is thus distinguishable. The decision in case of Taparia Tools is on the issue of allowability of revenue expenditure in the year of incurrence or spreading over a period of time. The same doesn’t 14 ITA NO. 201(6)/JP/2017 M/s. Chambal Fertilizers & Chemicals Ltd. support the case

MAGENDRA SINGH RATHORE,ALWAR vs. DCIT CENTRAL CIRCLE-2, JAIPUR

In the result the appeal of the assessee is partly allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

property. Sh. Magendra Singh Rathore 5. Aggrieved by the above order of the Assessing Officer the assessee preferred an appeal before the ld. CIT(A). Apropos to the grounds so raised by the assessee, the relevant finding of the ld. CIT(A) is as under:- “In this case the search action took place on 02.08.2017. Appellant had filed his original

KRISHNA BUILD HOME PRIVATE LIMITED,JAIPUR vs. INCOME TAX OFFICER, WARD 4(2), JAIPUR, JAIPUR

Bench: The Learned Ao, The Reassessment Proceeding Is Illegal, Bad In Law, Without Jurisdiction & Is Based On Wrong Facts & On Change Of Opinion & In Gross Violation Of Proviso To S. 147 Of The It Act, Which Says No Action Can Be Taken M/S. Krishna Build Home Pvt. Ltd., Jaipur.

1)(a):- The sum for which the property might reasonably be expected to let from year to year; or Therefore, the ALV should be estimated considering the reasonably expected let out value from year to year. It cannot be based on rent received for short period. j) Construction completed on 31/08/2009 it cannot be lettable with immediate after the completion

KRISHNA BUILD HOME PRIVATE LIMITED,JAIPUR vs. ASST. COMMISSIONER OF INCOME TAX (HOLDING CHARGE OF ITO WARD 4(2)), JAIPUR

Bench: The Learned Ao, The Reassessment Proceeding Is Illegal, Bad In Law, Without Jurisdiction & Is Based On Wrong Facts & On Change Of Opinion & In Gross Violation Of Proviso To S. 147 Of The It Act, Which Says No Action Can Be Taken M/S. Krishna Build Home Pvt. Ltd., Jaipur.

1)(a):- The sum for which the property might reasonably be expected to let from year to year; or Therefore, the ALV should be estimated considering the reasonably expected let out value from year to year. It cannot be based on rent received for short period. j) Construction completed on 31/08/2009 it cannot be lettable with immediate after the completion

GEETANJALI HOTELS & PROMOTERS PVT LTD,JAIPUR vs. ACIT, JAIPUR

In the result, the appeals of the assessee in ITA No

properties at a very reasonable price, hence for their revival both the companies were in a dire need of money and being a Geetanjali Hotels & Promoters Pvt. Ltd. holding company the appellant company advanced the money as and when required. The closing balances of loans and advances as on 31.03.2012 stood at 12,92,18,600 hence in this year

GEETANJALI HOTELS & PROMOTERS PVT LTD,JAIPUR vs. ACIT, JAIPUR

In the result, the appeals of the assessee in ITA No

properties at a very reasonable price, hence for their revival both the companies were in a dire need of money and being a Geetanjali Hotels & Promoters Pvt. Ltd. holding company the appellant company advanced the money as and when required. The closing balances of loans and advances as on 31.03.2012 stood at 12,92,18,600 hence in this year

ACIT(EXEMPTION), JAIPUR vs. MAHIMA SHIKSHA SAMITI, JAIPUR

In the result, all the grounds taken by the Revenue are dismissed and ground taken by the assessee society is allowed

houses in India for residential purposes and which is eligible for deduction under clause (viii) of sub-section (1) of section 36; (ixa) deposits with or investment in any bonds issued by a public company Mahima Shiksha Samiti, Jaipur vs. ACIT,(Exemption), Jaipur formed and registered in India with the main object of carrying on the business of providing long

SMT. BIRMA DEVI,JAIPUR vs. INCOME TAX OFFICER, WARD-6-2, JAIPUR

In the result, appeal of the assessee is allowed in terms indicated

Bench: The Hearing Of This Appeal.”

iii)(a) & (b) the agricultural land sold by the assessee could not treated as an asset and the question of levy of capital gain did not arise. In view of this there was no case for disclosing capital gain on the sale of such land and claiming deduction u/s 54B because the agricultural land sold was not an asset

SHRI KHATU SHYAM BUILDERS,JAIPUR vs. ACIT CENTRAL CIRCLE 2, JAIPUR, JAIPUR

In the result, the appeal of the assessee is allowed

Properties (P.) Ltd. v. Principal Commissioner of Income-tax [2019] 414 ITR 130 (Delhi) [CLC - 40 -50 ],deleted the penalty levied by the ld. AO and held as under: “….HEAD NOTES - Section 271(1)(c), read with section 37(1), of the Income-tax Act, 1961 - Penalty – For concealment of income (Disallowance of claim, effect of) - Assessment years

RAJ KUMAR JAIN,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE – 2, JAIPUR, JAIPUR

In the result, appeal of the assessee is allowed

property which has been found during the course of search. As per the definition of undisclosed income u/s 271AAB, the undisclosed investment in purchase of land cannot be stated to be income which is represented by any money, bullion, jewellery or other valuable article or thing. Whether it can then be said that such undisclosed investment represents income

DCIT,C-7, JAIPUR vs. BHARAT MOHAN RATURI, JAIPUR

In the result, the appeal of the Department is dismissed and that of the C

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;djvihy la-@ITA No. 413/JP/2022 fu/kZkj.ko"kZ@AssessmentYear :2013-14 The DCIT Circle-7 Jaipur cuke Vs. Shri Bharat Mohan Raturi 161, Indira Colony, Bani Park Jaipur 302 015 (Raj) LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.: AANPR 7066G vihykFkhZ@Appellant izR;FkhZ@Respondent CO No. 2/JP/2023 (Arising out of vk;djvihy la-@ITA No. 413/JP/2022 ) fu/kZkj.ko"kZ@AssessmentYear :2013-14 Shri Bharat Mohan Raturi 161, Indira

iii) 65constructs any residential house, other than the new asset, within a period of three years after the date of transfer of the original asset; and (b) the income from such residential house, other than the one residential house owned on the date of transfer of the original asset, is chargeable under the head "Income from house property".] …….. After comparing

OM KOTHARI FOUNDATION,JAIPUR, RAJASTHAN vs. ITO, (EXEMPTION) WARD-1, JAIPUR, JAIPUR, RAJASTHAN

In the result, the appeals of the assessee in ITA No

Bench: SHRI SANDEEP GOSAIN (Judicial Member), DR MITHA LAL MEENA (Accountant Member)

house property, capital gains and other sources, the provisions of section 32 are not applicable. Provisions of section 32, i.e., deprecation are, therefore, applicable in case of income earned under the head 'profit and gains of business or profession'. Depreciation under section 32(1) is allowable in respect of both tangible and intangible assets which are 33 OM KOTHARI FOUNDATION

SHREE CEMENT LIMITED,BANGUR NAGAR vs. ACIT, CENTRAL CIRCLE, AJMER

In the result, the appeal of the assessee - appellant in ITA No

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

sections (4) to (10) and as increased by the applicable surcharge, for the purposes of the Union, calculated in the manner provided therein, shall be further increased by an additional surcharge, for the purposes of the Union, to be called the “Health and Education Cess on income-tax”, calculated at the rate of four per cent of such income

ALLEN CAREER INSTITUTE,JAIPUR vs. JCIT, KOTA

In the result, the appeal of the assessee is partly allowed

section 36 (i)(iii). The assessee firm did not borrow any fresh money during the year and even have no opening borrowed money. Bank overdraft account is not borrowed money, because overdraft account is against the assessee own bank FDRs. It means bank overdraft is assesee own money taken out of FDR account temporarily. As and when the assessee needed

SHRI RAM DAS SONKIA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

In the result, appeal of the assessee is allowed

house property and income from other sources. The returned income was accepted by the AO while framing the assessment under section 143(3) and hence assessee’s case does not fall in the category where the regular books of accounts are mandatory. The entries of investment in real estate were found recorded in the diary and in the absence

KAPIL TANEJA,JAIPUR vs. ACIT CIRCLE 3, JAIPUR

In the result, the appeal filed by the assessee is partly allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

House Property Tax Rs. 21,725/- 7. Maintenance expenses Rs. 20,000/- Aggrieved of the additions made by ld.AO, (except enumerated at serial no. 5 and 6), assessee preferred appeal before ld.CIT(A), which stood dismissed vide order dated 13.12.2024. Present appeal has been filed by assessee against the order so passed by ld. CIT(A). With this background, ground

SHIV VEGPRO PRIVATE LIMITED ,KOTA vs. PCIT-UDAIPUR , UDAIPUR

In the result, the appeal filed by the assessee is allowed

house property, capital gain, business or profession. The\nrelevant provision is reproduced hereinbelow :\n1.\nS. 115BBE\"(1) Where the total income of an assessee,\nincludes any income referred to in section 68, section 69, section\n69A, section 69B, section 69C or section 69D and reflected in the\nreturn of income furnished under section 139; or 2. determined by\nthe Assessing

SMT. INDIRA AGRAWAL,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, KOTA

In the result, appeals of the assessee in ITA No

house property and income from other sources. The returned income was accepted by the AO while framing the assessment under section 143(3) and hence assessee’s case does not fall in the category where the regular books of accounts are mandatory. The entries of investment in real estate were found recorded in the diary and in the absence